DSM: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DSM
Largest movements
- Cash +€18,318
up €18,318 (+202.5%), from €9,048 to €27,366
mainly Net result for the year (+€66,658) and Stocks and contracts (+€10,000)
- Stocks and contracts -€10,000
down €10,000 (-44.4%), from €22,500 to €12,500
- Receivables within one year +€8,637
up €8,637 (+16.4%), from €52,758 to €61,395
of which Other amounts receivable: +€6,510
- Tangible fixed assets +€1,615
up €1,615 (+15.7%), from €10,276 to €11,891
of which Plant, machinery and equipment: +€1,951
- Profit (loss) carried forward +€66,658
up €66,658 (+31.8%), from -€209,787 to -€143,129
- Short-term financial debts -€30,000
down €30,000 (-30.0%), from €100,000 to €70,000
- Trade debts -€11,156
down €11,156 (-67.4%), from €16,549 to €5,393
- Tax, wage and social debts -€7,533
down €7,533 (-99.5%), from €7,570 to €37
- Write-downs -€73,367
no longer reported in 2025 (was €73,367)
- Gross operating margin -€57,130
down €57,130 (-42.5%), from €134,570 to €77,440
- Staff costs -€36,596
no longer reported in 2025 (was €36,596)
- Financial charges -€28,774
down €28,774 (-80.5%), from €35,733 to €6,959
of which Non-recurring financial charges: -€19,469
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €102,043 | €119,797 | +€17,753 | +17.4% |
| Fixed assets | 21/28 | €10,276 | €11,891 | +€1,615 | +15.7% |
| Tangible fixed assets | 22/27 | €10,276 | €11,891 | +€1,615 | +15.7% |
| Land and buildings | 22 | €9,598 | €9,598 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €1,951 | +€1,951 | |
| Furniture and vehicles | 24 | €677 | €342 | -€336 | -49.6% |
| Current assets | 29/58 | €91,767 | €107,906 | +€16,139 | +17.6% |
| Stocks and contracts in progress | 3 | €22,500 | €12,500 | -€10,000 | -44.4% |
| Stocks | 30/36 | €22,500 | €12,500 | -€10,000 | -44.4% |
| Amounts receivable within one year | 40/41 | €52,758 | €61,395 | +€8,637 | +16.4% |
| Trade receivables | 40 | €51,937 | €54,064 | +€2,127 | +4.1% |
| Other amounts receivable | 41 | €821 | €7,331 | +€6,510 | +792.7% |
| Cash at bank and in hand | 54/58 | €9,048 | €27,366 | +€18,318 | +202.5% |
| Deferred charges and accrued income | 490/1 | €7,462 | €6,645 | -€817 | -10.9% |
| Total equity and liabilities | 10/49 | €102,043 | €119,797 | +€17,753 | +17.4% |
| Equity | 10/15 | -€175,701 | -€109,043 | +€66,658 | +37.9% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,787 | -€143,129 | +€66,658 | +31.8% |
| Amounts payable | 17/49 | €277,744 | €228,840 | -€48,904 | -17.6% |
| Amounts payable after more than one year | 17 | €153,625 | €153,409 | -€216 | -0.1% |
| Other amounts payable | 178/9 | €153,625 | €153,409 | -€216 | -0.1% |
| Amounts payable within one year | 42/48 | €124,119 | €75,431 | -€48,688 | -39.2% |
| Financial debts | 43 | €100,000 | €70,000 | -€30,000 | -30.0% |
| Credit institutions | 430/8 | €100,000 | €70,000 | -€30,000 | -30.0% |
| Trade debts | 44 | €16,549 | €5,393 | -€11,156 | -67.4% |
| Suppliers | 440/4 | €16,549 | €5,393 | -€11,156 | -67.4% |
| Taxes, remuneration and social security | 45 | €7,570 | €37 | -€7,533 | -99.5% |
| Taxes | 450/3 | €7,570 | €37 | -€7,533 | -99.5% |
| Remuneration, social security and pensions | 62 | €36,596 | - | -€36,596 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €612 | €707 | +€95 | +15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €73,367 | - | -€73,367 | |
| Other operating charges | 640/8 | €2,846 | €3,116 | +€270 | +9.5% |
| Gross operating margin | 9900 | €134,570 | €77,440 | -€57,130 | -42.5% |
| Operating profit (loss) | 9901 | €21,150 | €73,617 | +€52,467 | +248.1% |
| Financial charges | 65/66B | €35,733 | €6,959 | -€28,774 | -80.5% |
| Recurring financial charges | 65 | €9,305 | €6,959 | -€2,346 | -25.2% |
| Non-recurring financial charges | 66B | €26,428 | €6,959 | -€19,469 | -73.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,583 | €66,658 | +€81,241 | |
| Profit (loss) for the period | 9904 | -€14,583 | €66,658 | +€81,241 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,583 | €66,658 | +€81,241 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.